Tax overhual

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Campbelltown busboy
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Joined: Sun Aug 11, 2013 1:23 pm
Location: Ruse/Campbelltown City NSW

Tax overhual

Post by Campbelltown busboy »

Here's a fix for the tax system
Tax bracket 1 $20,000-$500,000
Tax bracket 2 $500,000-$1,000,000
Tax bracket 3 $1,000,000-$500,000,000
Tax bracket 4 $500,000,000 and higher

Income taken
Taxable income from bracket 1 is 6%
Taxable income from bracket 2 is 25%
Taxable income from bracket 3 is 45%
Taxable income from bracket 4 is 70%
All tax rates fixed

Company tax
Small business 8%
Big busniss private 40%
Big business publicly traded and multinational companies 70% + 10% of all company profits
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